De Facto Settlement
The client, residing in New South Wales, was in a de facto relationship for an extended period and has three children aged 8, 6, and 4. They jointly own a property valued at approximately $1 million with an outstanding mortgage of around $680,000, and a vehicle valued at about $35,000. The client is the primary caregiver, with the children primarily residing with them. They have taken significant time off work for childcare responsibilities, while also handling the majority of household tasks. The ex-partner has stopped making mortgage payments, and there are no other substantial financial assets disclosed from the ex-partner.
Questions about this case
These answers have been verified by a lawyer in the LEAP networkWhat factors will the court consider in determining the division of assets in a de facto relationship?
In determining the division of assets in a de facto relationship, the court considers various factors, including the contributions each party made to the relationship, such as income, property, and homemaking efforts. The future needs of each party, including age, health, income capacity, and who will primarily care for the children, are also assessed. The duration of the relationship and contributions to the family's welfare are evaluated to achieve a fair and equitable settlement.
How does my role as the primary carer of our children impact the property settlement?
Your role as the primary carer of your children significantly impacts the property settlement. The court considers the future needs of each party, particularly the primary carer's role and the children's needs. Since you care for the children most of the time, you may receive a larger share of the property to ensure housing stability for the children, reflecting the importance of non-financial contributions.
Since my ex-partner has stopped contributing to the mortgage, how might this affect the property division?
Your ex-partner's cessation of mortgage contributions may significantly influence the property division. The court considers the contributions of both parties, and since you are currently responsible for the mortgage while being the primary carer, this may work in your favour. Documenting all financial contributions and changes in your ex-partner's financial involvement post-separation is essential.
What is my entitlement on our assets? Is my ex partner automatically entitled to 50% of the assets?
In a de facto relationship property settlement, an automatic 50/50 split of assets is not guaranteed. The court evaluates factors like contributions made during the relationship and future needs, which may entitle you to more than a 50% share, given your contributions and caregiving role.
Are there any financial records or documentation I need to prepare for the property settlement process?
To prepare for the property settlement process, gather financial records, including bank statements, mortgage statements, superannuation details, tax returns, and payslips. Documenting your financial contributions and creating an inventory of all assets and liabilities is crucial in substantiating your claims.
Will domestic violence affect our property settlement?
Domestic violence can significantly impact property settlements. The court considers any history of domestic violence in determining property division, as it may influence financial contributions and needs. Evidence, such as police reports, is important to ensure this is factored into the settlement.
